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Updated 2 hours ago

First & Banks

VERIFIED

705 1st Ave SW Rochester, MN

Studio - 3 Bed
•
1 - 2 Bath

532 - 1,739 Sq. Ft.

Available Now
Floor plans
Studio • 1 Bath
$1,775 - $1,975
711 ft2
3 Available
Managed By: First & B of Rochester LLC
Unit 716
$1,975
Available Now
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Unit 729
$1,975
Available Now
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Unit 629
$1,775
Available Aug 26th, 2026
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Studio • 1 Bath
$1,625 - $1,705
532 ft2
2 Available
Managed By: First & B of Rochester LLC
Unit 322
$1,705
Available Now
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Unit 439
$1,625
Available Aug 24th, 2026
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1 Bed • 1 Bath
$1,799 - $1,905
707 ft2
22 Available
Managed By: First & B of Rochester LLC
Unit 613
$1,825
Available Now
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Unit 615
$1,825
Available Now
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Unit 627
$1,825
Available Now
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Unit 313
$1,799
Available Now
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Unit 315
$1,825
Available Now
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Unit 317
$1,825
Available Now
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Unit 321
$1,825
Available Now
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Unit 323
$1,825
Available Now
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Unit 417
$1,825
Available Now
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Unit 421
$1,825
Available Now
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Unit 423
$1,825
Available Now
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Unit 433
$1,825
Available Now
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Unit 513
$1,825
Available Now
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Unit 515
$1,825
Available Now
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Unit 521
$1,825
Available Now
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Unit 523
$1,825
Available Now
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Unit 531
$1,825
Available Now
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Unit 533
$1,825
Available Now
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Unit 527
$1,825
Available Now
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Unit 440
$1,885
Available Now
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Unit 428
$1,905
Available Now
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Unit 413
$1,825
Available Aug 21st, 2026
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1 Bed • 1 Bath
$1,975 - $2,015
753 ft2
7 Available
Managed By: First & B of Rochester LLC
Unit 604
$2,015
Available Now
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Unit 404
$1,975
Available Now
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Unit 406
$1,975
Available Now
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Unit 408
$2,015
Available Now
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Unit 504
$2,015
Available Now
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Unit 506
$2,015
Available Now
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Unit 510
$2,015
Available Now
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View Rented Units
1 Bed • 1 Bath
$1,815
696 ft2
1 Available
Managed By: First & B of Rochester LLC
Unit 309
$1,815
Available Now
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View Rented Units
1 Bed • 1 Bath
$1,930
701 ft2
2 Available
Managed By: First & B of Rochester LLC
Unit 438
$1,930
Available Now
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Unit 538
$1,930
Available Now
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2 Beds • 2 Bath
$2,725
1084 ft2
2 Available
Managed By: First & B of Rochester LLC
Unit 641
$2,725
Available Now
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Unit 341
$2,725
Available Now
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2 Beds • 2 Bath
$2,890 - $2,895
1203 ft2
3 Available
Managed By: First & B of Rochester LLC
Unit 625
$2,895
Available Now
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Unit 325
$2,890
Available Now
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Unit 425
$2,890
Available Now
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2 Beds • 2 Bath
$3,470
1184 ft2
1 Available
Managed By: First & B of Rochester LLC
Unit 707
$3,470
Available Now
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2 Beds • 1 Bath
$2,795 - $2,995
1246 ft2
6 Available
Managed By: First & B of Rochester LLC
Unit 101
$2,795
Available Now
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Unit 102
$2,795
Available Now
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Unit 103
$2,795
Available Now
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Unit 106
$2,995
Available Now
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Unit 107
$2,995
Available Now
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Unit 108
$2,995
Available Now
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2 Beds • 2 Bath
$2,990 - $3,025
1239 ft2
2 Available
Managed By: First & B of Rochester LLC
Unit 442
$2,990
Available Now
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Unit 542
$3,025
Available Now
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3 Beds • 2 Bath
$3,295 - $3,795
1280 ft2
4 Available
Managed By: First & B of Rochester LLC
Unit 636
$3,795
Available Now
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Unit 336
$3,295
Available Now
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Unit 436
$3,795
Available Now
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Unit 536
$3,795
Available Now
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3 Beds • 2 Bath
$3,700 - $3,775
1375 ft2
3 Available
Managed By: First & B of Rochester LLC
Unit 305
$3,700
Available Now
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Unit 405
$3,775
Available Now
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Unit 505
$3,775
Available Now
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Where you'll live
Street View
Map View
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First & Banks
First & Banks
First & Banks
Amenities
Fitness Center
Bike Storage
Fees & leasing info
Pets
Dogs Ok
Cats Ok
Lease & Fees
Security Deposit: $500
Property details
Description

Find the ultimate home sanctuary in Rochester, MN. First & Banks offers spacious studio, 1, 2 and 3-bedroom apartments with sophisticated finishes and all-inclusive access to intentional on-site amenities. The property also features premium two-story walk-out units and seventh-floor penthouse units with upgraded finishes.
The pet-friendly community is located three blocks from the Mayo Clinic and within walking distance to downtown. Enjoy park views and access to walking paths, tennis courts, a playground and a recently completed aquatics center.
Unit features: elevated 9-foot ceilings, walk-in closets, in-home washer & dryer, upgraded painted cabinetry, open-concept living spaces and stainless steel appliance package. Select units have upgraded finishes and features.
Community amenities: fitness & yoga studio, third-story amenity deck with grilling stations and spa, grab-and-go mini market, grand lobby with dedicated mail and package room, bike storage, community clubroom with kitchen and fireplace, multi-sports simulator, pool table, outdoor courtyard, exclusive seventh-floor amenity deck and clubroom and makers crafting room.

Additional Details
Total Unit Count: 219
Last Updated: Updated 2 hours ago
Contact Number: (507) 516-1027 ext: 5
Internet Providers
Provider Max Download Speed (Mbps) Max Upload Speed (Mbps)
Charter Communications 940.0 35.0
ViaSat, Inc. 100.0 3.0
Hiawatha Broadband Communications, Inc. 40.0 10.0
Hughes Network Systems, LLC 25.0 3.0
CenturyLink, Inc. 15.0 0.75
Data from June 2020 provided by the FCC
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Affordability
To comfortably afford an apartment, we recommend having at least three times your monthy rent in gross household income.
View suggested annual incomes for First & Banks by bedroom type below.
Studio
Suggested income:
$65,200
per year
1 Bedroom
Suggested income:
$67,400
per year
2 Bedroom
Suggested income:
$110,600
per year
3 Bedroom
Suggested income:
$133,300
per year
Rent report

First & Banks Rent vs. Rochester Average

 First & Banks      Rochester Average
Studio
$1,811
$1,429
$0
$600
$1,200
$1,800
$2,400
1BR
$1,874
$1,580
$0
$650
$1,300
$1,950
$2,600
2BR
$3,073
$2,002
$0
$1,000
$2,000
$3,000
$4,000
3BR
$3,704
$2,318
$0
$1,250
$2,500
$3,750
$5,000

First & Banks is asking 27% more than the average studio apartment in Rochester.

If you upsized to an average priced Rochester 1 bedroom apartment, you would pay 10% more per month.

First & Banks provides 5% more square footage than the average Rochester studio apartment.

Monthly Rent Rent per Sq. Ft. Suggested
Monthly Income
First & Banks
Studio $1,811 $2.80 $5,433
1BR $1,874 $2.60 $5,622
2BR $3,073 $2.40 $9,219
3BR $3,704 $2.80 $11,113
Rochester Average
Studio $1,429 $2.40 $4,287
1BR $1,580 $2.20 $4,739
2BR $2,002 $1.80 $6,005
3BR $2,318 $1.50 $6,953
4BR $2,746 $1.10 $8,238

Availability in Rochester

In order to find the best deal, you need to know what types of units are available. Property managers may be willing to give concessions if they have many vacant units.

There are currently 211 2BR units on the market in Rochester. If you're looking to negotiate, this may be your best option.

Studio
1BR
2BR
3BR
4BR
7% 38% 39% 11% 4%
Available Units in Rochester
Studio 38
1BR 202
2BR 211
3BR 57
4BR 23
Location
Nearby College

Rochester Community And Technical College

FAQs
Is this property currently leasing units?
Yes. There are 66 available units at this property.
How many units are move-in ready in the next 2 months?
This property has 66 units available for move-in over the next 2 months. 63 units are vacant and ready for immediate occupancy.
What's the square footage of the available units?
The available units range from 532 to 1,739 square feet.
Does this property allow cats or dogs?
This property allows tenants to keep cats and dogs.
How many bedrooms are in the available units?
There are studio, 1, 2 and 3 bedroom units available.
How many bathrooms are in the available units?
There are 1 and 2 bathroom units available.
What's the monthly rent at this property?
Rent on available units ranges from $1,625 to $3,795. First & Banks has studio units available starting at $1,625, 1 bedroom units available starting at $1,799, 2 bedroom units available starting at $2,725, and 3 bedroom units available starting at $3,295.
Where is this property located?
This property is at 705 1st Ave SW in Rochester, MN. It's 0.4 miles southwest from the center of Rochester.
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